Ingka Centres, part of the Ingka Group has today taken its first step to expand into India with a major land acquisition in the country.
The 47,833sq m plot in Noida, Uttar Pradesh will be developed into an IKEA anchored retail destination, adding to Ingka Centres 45 existing Meeting Places around the globe. Ingka Centres’ move to India is part of its global vision to expand into new markets with IKEA anchored destinations that deliver a powerful retail attraction and new experiences to reflect the needs of local communities. India will play a central role in Ingka Centres’ vision to shape Meeting Places with offerings that appeal to the ‘many people.’
Ingka Centres’ Meeting Place concept is very different to the typical mall, providing a sustainable mixed-use destination that brings the ‘many people’ together for multiple reasons. Meeting Places are always IKEA anchored and are designed around the needs of local communities to bring value for customers, communities, and partners.
Cindy Andersen, Ingka Centres Managing Director, commented: “India is an exciting and dynamic market, and today’s acquisition is a key milestone in our strategic vision to transform the business in response to the changing retail environment. Millions of people live within easy reach of Noida and we want to build emotional connections with them, by bringing as much value as we possibly can to their lives and communities. We look forward to presenting our Meeting Place concept to this market, a concept built around local communities needs and which goes far beyond shopping.”
